Rise and Shine in the Banking and Finance Sector

India is ranked as one of the most vibrant economies in the world. The presence of strong BFSI (Banking, Financial Service & Insurance) sector with its robust growth has helped country’s banking system to withstand the global downturn well. With FinTech revolution, speedy implementation in bringing new reforms like digital payments, relaxation of foreign investment rules, global names increasing their stakes in Indian Insurance companies, etc. have all led to the sector achieving a robust growth.

In recent times, these rapid advancements witnessed in the BFSI sector have subsequently paved way for varied career opportunities. The National Skill & Development Corporation in 2016 reported that the sector is said to have contributed more than 6% towards India’s GDP during the year ended 2008. Further to accelerate the progress in the sector, over 8.4 million individuals are projected to be employed by BFSI institutions in the next few years. Additionally, the NSDC report projects the human resource requirement between 2008 and 2022 to reach over 4.2 million.

With this, the banking & finance careers have widened beyond the traditional Accounting & Taxation roles. The Banking & Finance sector offers some of the most promising careers.

1 – BFSI Sector Skill Council estimates that the industry will hire about 40 lakh employees by 2022

2 – An average of 5000 new branches expected to open annually in next 10 years should add 8 Lakh jobs

3 – Financial Inclusion program of RBI will create a demand of over 5 Lakh skilled Banking Correspondents

5 – Secured long-term career: Careers in Banking & Finance have just begun to grow with new technologies and financial innovations taking place with a brisk pace. With a firm grounding in the fundamentals, one can hope to achieve a long-term career and success.

But tapping these opportunities is easy if you have experiential training and higher skill sets. Mere graduation will not suffice. Growth-driven Banks & FIs are exhibiting increasing reluctance to hire or elevate graduates with generalized knowledge preferring the superior academic proficiency, practical skill sets and acumen of postgraduates.

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TKWs group and Pic Since 2002, TKWs group has been working on improving competencies through various courses and mediums. Institute of Banking & Finance was set up in the year 2010 with the vision of creating knowledge center of excellence for the banking sector. If you have any kind of questions please call or contact us.